Price determines the demand for a product
Demand refers to the quantities of a product at which a consumer is willing and able to purchase at given price per period of time. By breaking down the definition, factors that determine demand can be define.
Quantities- this refers to how much the consumer really needs. If people want to purchase large quantities of that good then the good is said to be in high demand.
Product- this is the item being traded.
Quantities- this refers to how much the consumer really needs. If people want to purchase large quantities of that good then the good is said to be in high demand.
Product- this is the item being traded.